Property Council warns "Don't play with negative gearing"

Property Council warns "Don't play with negative gearing"

The Property Council has launched a series of advertisements aimed at educating the general public about the benefits of negative gearing.

Negative gearing is a vital element of the economy, says Ken Morrison, CEO of The Property Council.

The Property Council has launched a TV, radio, newspaper and digital media advertising campaign aimed at promoting the benefits of negative gearing to the Australian economy.

Ken Morrison, Chief Executive of the Property Council, said, “Almost two million Australians own an investment property and almost 1.2 million negative gear. This is an industry that is vital to our economy. A total of 1.1 million Australians rely on property for their jobs, and property generates one ninth of Australia’s GDP,” he said.

“Sudden lurches in policy are risky to an industry that is contributing so much to jobs and growth. Negative gearing is a vital part of the means by which Australians, from all walks of life, secure their financial future.

“Our message to both sides of politics is: don’t play with negative gearing.”

Morrison said the campaign, called 'Don't play with property', is not political, but is focused on the facts of the industry. “Tax is always a legitimate area of debate and we are happy to put the case for our industry and the millions of Australians who rely on it,” he said.

“We intend to win this debate on the strength of our arguments, rather than through a large advertising spend.”

“The tradies, bricklayers, plumbers, carpenters, landscapers, surveyors, real estate agents and investors who make up this industry can be found in every community throughout the country. That is who we will be talking to.

“Our ads are a reminder that Australians from all walks of life depend on the property industry – and seismic shifts in policy put this at risk.”

Morrison said the ads will run over a month. “Playing with negative gearing is a risk to our industry and the economy. We would be negligent, as the advocates of the industry, not to say so,” he said.